E4-5 The adjustments columns of the worksheet for Mears Company are shown below.
Adjustments
Account Titles Debit Credit
Accounts Receivable 600
Prepaid Insurance 400
Accumulated Depreciation 900
Salaries Payable 500
Service Revenue 600
Salaries Expense 500
Insurance Expense 400
Depreciation Expense 900
2,400 2,400
Instructions
(a) Prepare the adjusting entries.
(b) Assuming the adjusted trial balance amount for each account is normal, indicate the financial
statement column to which each balance should be extended
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